This is a matter of precedence.
<li>{ $node//text()[1] }</li>
Has the meaning of "return all text nodes, that are in first position of their encapsulating element". Consider the intermediate result after partial evaluation to be something like
("allo!"[1], "Il pleut des clous."[1])
Applying parenthesis as you proposed in #4 resolves the issue:
<li>{ ($node//text())[1] }</li>
resulting in
("allo!", "Il pleut des clous.")[1]
instead.
This is not an issue in $5, as all text nodes are stored in a sequence (which is flattened), and you return the first result of the flattened sequence.